EY Africa Tax Conference - United States have a vital role to play in ... their experiences of the “Top 10 common tax mistakes companies are making in ... EY Africa Tax Conference

Africa Tax Conference 2014Building a better working world in Africa

Agenda

Africa Tax Conference 2014Building a better working world in Africa

18 - 19 September, Johannesburg,South Africa

Against the optimistic backdrop of doing business in Africa, many important questions arise such as, “do African tax systems discourage or promote investment, economic growth and job creation?” Join us as our panels of experts debate issues such as the roles of African tax systems in promoting job creation through entrepreneurship and the impact of unilateral action by African governments to curb base erosion and profit shifting.

Our insight sessions will provide deeper understanding into the issues facing multinationals operating in Africa including transfer pricing developments across the continent, taxation of M&A in Africa and managing tax risk through technology.

As was done last year, the format of the event is flexible, allowing you to choose your own agenda from a series of different and dynamic meeting styles.

Please use this document to help navigate your way around the

Africa Tax Conference.

Welcome to the

Join the conversation

To keep updated and for all materials related to the conference visit www.ey.com/za/atc2014

@EY_Africa#AfricaTax

Time Sessions

8:00 - 9:00 Registration

9:00 - 9:30 Welcome Africa Tax Conference 2014

9:30 - 10:45Conference hall

Plenary session 1: Building a better working world in Africa through entrepreneurship

“We are traders. We are inventors. We are workers. We create companies. We set up stalls. We are studious. We are gardeners. We feel a call to serve. We make things.”

Extract from the vision statement of South Africa’s National Development Plan

Entrepreneurs have a vital role to play in any healthy and vibrant economy. Today, many countries are facing challenging economic conditions and high levels of unemployment, especially amongst the youth. Entrepreneurs’ contributions are now more important than ever!

We are seeing globally that governments are increasingly looking to entrepreneurs to kick-start their economies, and provide the jobs that stimulate growth – however entrepreneurs need to be given the tools and environment that will enable them to succeed.

We will explore what can happen when governments, entrepreneurs and corporations work together to foster sustainable growth. Drawing on EY’s recent thought leadership, “The power of three”, our panel will look at how we can all work across five pillars that are key to any robust entrepreneurial ecosystem:

The session will especially focus on access to funding, tax and regulation and creating and supporting a culture of entrepreneurship.

We will also look closely at best practices adopted by governments and supported by corporations that relate to tax incentives and easing of the tax administrative burdens impacting young entrepreneurs.

Join us as our panel consisting of entrepreneurs, business leaders and economists debate the ways to increase job creation through entrepreneurship and how the tax system can promote this.

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Access to funding

Entrepreneurship culture

Tax and regulation

Education and training

Coordinated support

Tea and coffee will be served

Day 1 | Thursday, 18 September 2014Key: The icons below indicate who would find each session most beneficial.

Business operations

Financial executives

Policy, government affairs and public relations officials

Legal or tax counsel

Tax directors

C - suite

Time Sessions

10:45 - 11:15Networking lounge

Tea break


Plenary 2: Navigating tax uncertainty in Africa

It has become apparent that global economic growth will remain subdued for quite sometime. While Africa continues to provide unique opportunities, the lack of global growth is taking its toll on the region with some African countries performing better than others. In this atmosphere, African governments are being forced to make difficult choices between maximising revenue for physical and social infrastructure versus leaving businesses to reap their own profits for reinvestment and employment.

These choices are becoming all the more difficult as intellectual thoughts around taxation have become more global. In addition to the various local departments, agencies, legislatures, non-profit organizations, industry bodies, businesses and tax firms, African revenue officials are now engaging with multilateral organizations who believe they have a special “value-add” within the debate. In the end, these multinational organizations are seeking to maximize world tax revenues by pushing for uniformity (often to the exclusion of business realities) with calls being made for both legislative and administrative change. The purpose of this session is to explore how African governments are responding to these outside forces and how multinationals are expected to operate within this increasingly turbulent paradigm.

12:30 - 13:30Networking lounge Lunch break


Plenary 3: Rising tax controversy in Africa

Tax controversy is rising everywhere in the world. The increased demands placed on governments and the resulting need for increased tax revenues are profoundly felt throughout Africa. Businesses that strive for stability around their tax obligations and exposures are realizing that the solutions of the past are no longer enough to manage the future tax obligations.

Long-term investments and job creation are impacted by instability around taxes that can easily consume significant portions of business revenues, when taking into account all forms of tax. Therefore, companies are looking closely at approaches that allow them to:

The panel will address how changes in rules giving rise to controversy can be better anticipated; how companies can create better processes and improve their ability to better handle local tax disputes and how effectively conflict can be prevented through rulings ,fiscal stability agreements, APAs, disclosure regimes and fast track settlements. Lastly, can disputes be prevented by ensuring alignment between operating models and tax and transfer pricing principles?

14:45 - 15:15Networking lounge Tea break

1 Engage in the legislative and regulatory agendas of governments and its agencies

2 Work with administrations on entering into arrangements that bring greater stability and certainty around their uncertain tax positions

3 Work with their organizations around restructuring their holdings and operating models that result in less uncertainty where earnings and value are created

4 Prepare to react, discuss, dispute or settle on matters where there is disagreement with the authorities

Insight sessions

During these sessions EY professionals will present on critical tax topics facing companies today. Leave with new insights that may impact your day-to-day operations now or in the future.

Day 1 | Thursday, 18 September 2014

Time Sessions

15:15 - 16:45 Insight sessions - stream 1

Room 4Cash tax planning

Free cash flow is an important KPI in any organization and in any CFO’s scorecard. This session focuses on how tax supports the CFO in this respect.

Room 2Transfer pricing updates across Africa

Our panel will look at transfer pricing developments across Africa. Emerging trends in the audit process are being outpaced by the increased legislative changes taking place in Africa.

ATAF and UN developments will be explored in addition to a review of what we are seeing in all the major regions in Africa this past year, as well as what is on the agenda for 2015/2016.

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Key: The icons below indicate who would find each session most beneficial.

Business operations




Tax directors

C - suite

Time Sessions

Room 3Business and tax challenges for inbound investors in Africa

Foreign direct investment and expansion into the continent is approaching US$45 billion per year.

Companies are working through the benefits and challenges of acquiring businesses in Africa or alternatively, looking at starting entirely new operations.

The panel will explore the tax issues related to the forming of a new enterprise as well as purchasing existing businesses. We will also have panellists who have worked on taxes in a number of African countries sharing their experiences of the “Top 10 common tax mistakes companies are making in Africa” and “Lessons I have seen from my time overseeing taxes in more than 15 African countries.” There will be insights from people who have recently expanded their businesses into new African markets. They will share their experiences on “Things I would do differently if I had to do it all again.”

Room 1 Global trends in tax compliance and reporting and the practical implications for companies operating across the African continent

This panel will share their insights on global trends in the tax compliance and reporting space. They will highlight issues to consider when embarking on a finance transformation, and the practical implications of these trends on companies operating across the African continent.

16:45 - 18:00Networking lounge Cocktail reception

A time to socialise and network accompanied by fine foods and entertainment.

Day 1 | Thursday, 18 September 2014

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Time Sessions

8:30 Day 2 opens - Tea and coffee will be served in the networking lounge.


Room 4Understanding the ripple effect of increasing cross border movement

In today’s rapidly changing world where tax and immigration rules are increasingly becoming moving targets, people-related issues can pose significant tax, financial and business risks for the corporation.

Companies operating in Africa are increasingly involved in either remediation or risk management of employment–related issues.

Our interactive session will highlight several employment issues related to cross border activities, corporate tax issues, VAT, withholding taxes, immigration issues and many others. We will focus on the traps and pitfalls that await you as your business continues to expand globally. Coupled with this we will look at what you can do to help your organization minimize its tax and reputational risk.

Room 1Complexities, challenges and opportunities of supply chain management in Africa

Emerging markets, such as Africa are now a permanent item on the executive agenda, offering revenue growth and margin growth, as well as giving sourcing, manufacturing and supply chain managers access to a lower cost base and large labour pools. Harnessing and protecting the potential value means managing a complex legislative, physical and managerial landscape. Is your business making the right, holistic, trade-offs? Are you managing the risks and opportunities? Have you established a regional presence in business and tax, or do you manage this remotely?

Day 2 | Friday, 19 September 2014

Key: The icons below indicate who would find each session most beneficial.

Business operations




Tax directors

C - suite

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Time Sessions

Room 3Managing operational tax risk through technology

Operational tax risks are the risks arising inside the organization from people, process and technology. Companies that want to successfully mitigate tax risks should have clearly defined strategies in respect of all three elements. With the ever increasing compliance and reporting landscape, together with the continuing strain on resources there is a growing need to enhance and integrate technology throughout the tax life cycle. This session will focus on investing in and deploying tax technology, and developing a tax technology roadmap to leverage your existing investments and infrastructure.

Room 2Permanent establishment risk in Africa

The 2014 EY Tax Risk and Controversy survey ranked permanent establishment risk as one of the most significant tax risks facing multinationals. In Africa there has been a wave of legislative change, reporting requirements, revenue authority activity and court decisions. These risks are being driven by inter alia the number of short-term business travellers travelling into the continent as companies seize the attractive investment opportunities and changes in ways of doing business such as the use of cloud computing.In addition, for several years, multinationals have been moving away from country-based operating models towards regional or global principal structures transacting with or through local entities hosting day-to-day operations. There is a potential for the principal to be viewed as having local PE in the operating countries, if central control goes so far that local dependence is created.

We will provide a comprehensive discussion on how these developments impact multinationals expanding across the continent.

10:30 - 11:00 Networking lounge Tea break


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Time Sessions

Room 3Managing operational tax risk through technology

Operational tax risks are the risks arising inside the organization from people, process and technology. Companies that want to successfully mitigate tax risks should have clearly defined strategies in respect of all three elements. With the ever increasing compliance and reporting landscape, together with the continuing strain on resources there is a growing need to enhance and integrate technology throughout the tax life cycle. This session will focus on investing in and deploying tax technology, and developing a tax technology roadmap to leverage your existing investments and infrastructure.

Room 2Permanent establishment risk in Africa

The 2014 EY Tax Risk and Controversy survey ranked permanent establishment risk as one of the most significant tax risks facing multinationals. In Africa there has been a wave of legislative change, reporting requirements, revenue authority activity and court decisions. These risks are being driven by inter alia the number of short-term business travellers travelling into the continent as companies seize the attractive investment opportunities and changes in ways of doing business such as the use of cloud computing.In addition, for several years, multinationals have been moving away from country-based operating models towards regional or global principal structures transacting with or through local entities hosting day-to-day operations. There is a potential for the principal to be viewed as having local PE in the operating countries, if central control goes so far that local dependence is created.

We will provide a comprehensive discussion on how these developments impact multinationals expanding across the continent.

10:30 - 11:00 Networking lounge Tea break

Time Sessions


Room 1Creation of sustainable value: tax incentives and cash grants on a global scale

More and more jurisdictions impose restrictions on tax planning techniques as a consequence of the current BEPS debate. Innovation and corresponding R&D and other expansion activities in growth markets demand extensive strategic attention. Hence, cash grants and tax incentives in a broad sense are becoming increasingly important as an instrument to lower the financial burden. This session will provide you with current developments and recent trends (e.g Horizon 2020) and insights into leading practices in designing and implementing standards and processes to utilize funding opportunities efficiently on a global scale.

Room 4Can data analytics add value to the tax function?

Taxes and in particular indirect taxes are automated in the company’s ERP systems. The numbers of transactions no longer allow for a manual review and companies heavily rely on the correctness of the data. We will provide examples and best practices around using data analytics to manage the company’s indirect tax position and demonstrate how the same data can be used to build a tax control framework. Experience shows that the opportunities are likely to exceed and risks.

Room 2Intercompany financing in Africa facing new challenges

The tax treatment of intercompany debt financing continues to be a contentious issue. In this session we will focus on recent policy changes impacting corporate treasuries in Africa in relation to interest deductibility, thin capitalisation rules and hybrid instruments. We will debate how the issue is being impacted by BEPS including unilateral actions by governments in Africa to address BEPS concerns.


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Room 3Acquisition planning in Africa

The subject of taxation remains an ever important one in the African M&A context. Whilst investors increasingly focus on tax as one of the key drivers in the search for value in a challenging market, recent legislative trends across the continent sees the enactment of (and proposals for) new tax rules with particular impact on M&A. The dynamic nature of the regulatory climate calls for a continual monitoring of a chosen acquisition structure over the life of the investment and practical review of tax efficiencies well in advance of a contemplated divestment or acquisition.

With diverse cross border transaction experience and local tax knowledge, join our panellists as they discuss how to navigate some of the more common tax implications of M&A in sub-Saharan Africa and manage capital positions more effectively.

12:30 - 13:30Networking lounge Lunch break

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Meet EY102 Rivonia Road,Sandton Connect with an EY representative or team to privately discuss those complex issues facing your business. These private meetings will take place on Tuesday, 16 September, Wednesday, 17 September and on Friday, 19 September. The meetings will be held at EY, 102 Rivonia Road, Sandton. In addition to attending the conference, this is an excellent opportunity for you to discuss your tax issues and growth objectives with some of our most experienced colleagues from across Africa and globally.

To keep updated and for all materials related to the conference visit www.ey.com/za/atc2014

Join the conversation @EY_Africa #AfricaTax

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About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. © 2014 EYGM Limited. All Rights Reserved

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ED no. None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.

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EY Africa Tax Conference - United States have a vital role to play in ... their experiences of the “Top 10 common tax mistakes companies are making in ... EY Africa Tax Conference